Oyedele was chatting nonsense. He doesn't understand the value chain refineries bring to Nigeria.

Maybe he thinks after selling the refineries the money will sustain us for another 1000 years.

FreeStuffsNG:
Most assets sold by Pa Obj are now depleted so this refineries sale should not be the only option on the table. Jimoh Ibrahim said more than this then but we know the rot he is currently being tried for. He was parading himself then as tax expert too but all na wash. No real character.

I see reason advanced that we should secure our mational energy assets. The real issue is now how we can secure without losing control yet run it efficiently. If it requires everyone to work there to swear before Ogun to kill him or her if he or she abuses our national trust so be it. Prof Wande Abimbola once advocated this measure because they will be struck by thunder immediately they betray the trust.

We need creative and potent way to solve this Refinery problem. All options must be on the table including those found frustrating us should be tried to face death penalty.

As if you won't fight when politicians who give you "mobilisation money" to chat nonsense on forums are lined up for the firing squad.

You will just be talking rubbish up and down.

Sangoamadioha1:
They have started again. First it was remove subsidy and float the naira and all our problems will be over. We are all witnessing the result of these policies. Now we should not repair our refineries We have very dumb but vocal people in Nigeria, which is part of our biggest challenges.

.. The man spoke with both sides of his mouth. .. He said "The refineries should not work because of the inefficiency if the Government" .. he latter said "The cost of importing refined Petro into the country is very high"

Please, what kind of public organization is he in-charge of ?

Sangoamadioha1:
They have started again. First it was remove subsidy and float the naira and all our problems will be over. We are all witnessing the result of these policies. Now we should not repair our refineries We have very dumb but vocal people in Nigeria, which is part of our biggest challenges.

..they did not say should not repair the refinery...they said that the government should sell it to some private individual, a private individual , the private sector...an expert to operate and run the refinery..that a private individual will run the refinery very well efficiently, create jobs for the youths and provide fuel at a cheaper price...than government pumping money on the refinery and at the end the refinery is not working due some government officials diverting the money to their bank accountd... federal government since 15 years ago has spent 10 trillion naira on the refineries to work but it's not working due to corruption

They should sign maintenance agreement with a foreign company with replacement spare parts inview. And they will be held liable if found wanting.

The marketers don't understand what he is saying.

A sell off would be best.

The government would have to disengage dismissed workers with generous remunerations. That's what Jonathan did with former PHCN staff.

I know of one who started his own estate agency. He was given 10m. This was at a time the exchange rate was 160 to a dollar. That's $62,500 or N62,500,000 in today's money. I am sure with N25m, many of them should be alright.

The money spent can easily be recovered from the privatisation proceeds.

It's true sell those refineries to the private individuals in the private sector...the private sector, individuals know how to operate and run an asset efficiently, very well and maintain the assets, and create jobs with the asset and affordable and cheap goods and services...look at the telecommunication sector...the sector is private driven..with MTN , glo, Airtel, etisalat...and they provide good and efficient services at s cheaper price and brings competition

What we need is a good governance

And you're happy saying this?

Those people that buy crude, refine and sell back to you have ten heads.

I blame fools that make sure inept people like you remains in happening space because of religion and tribalism.

Listen to the stupid talk. Inefficiencies of the management will make all Nigerian suffer?

So, it was a deliberate attempt. If there is no competent hands in Nigeria, we can not consult outside Nigeria

Sangoamadioha1:
They have started again. First it was remove subsidy and float the naira and all our problems will be over. We are all witnessing the result of these policies. Now we should not repair our refineries We have very dumb but vocal people in Nigeria, which is part of our biggest challenges.

They have not started again. What Oyedele is saying is that from historical records we have been so inefficient in managing these refineries. Doesn’t it make sense then to sell it to the private sector. I am very sure if any of these refineries is sold to you today, it will not be making the kind of loss government is making. I know you may not have the kind of money that is required to buy it but we all know how government business run. You and I know that if a private person buys any of the refineries, at least 50% of the employees will be sacked almost immediately. Can government do that

Sangoamadioha1:
They have started again. First it was remove subsidy and float the naira and all our problems will be over. We are all witnessing the result of these policies. Now we should not repair our refineries We have very dumb but vocal people in Nigeria, which is part of our biggest challenges.

so what are u saying we have been repairing refineries for decades with nothing to show for it. N10TRILLION on Refineries alone!!!!

Olaide1295:
The refineries should be sold off. The government will NEVER know how to run a refinery and it will only fail again in the long run.
Even in the short term, it will only become another subsidy as some people will use it to steal government funds.
Don't bother trying to run it again, just selloff 80% stake to Nigerian investors and hold only 20% minority stake.
Hopefully the govt listens.

I couldn't have said it any better, a balance selloff that will ensure that the government has a minority stake and the remaining held by experienced oil investors.

themanderon:
The same refineries that several governments of the world are ruining is what this one is saying will never work. It won't work because the criminals in power will never want it to work. This is also the situation with NEPA/phcn/electricity distribution companies. Whichever ways you look at it this country is really messed up from top to bottom.

Yes, you are right!
•The ARAMCO of Saudi Arabia - is the Best of Oil Institutions today in the World - Very Functional, Profitable Returns,etc. So, what NNPC ( Corruption entity) Cannot do in Nigeria, ARAMCO of Saudi-Arabia is doing it there in their Country!
-Mr Oyedele is just being Pragmatic-as he just told us ,what the Public Institutions in Nigeria is like but not that it cannot work!
His explanations is because we are:
•Not Discipline
•we have no Vision for Nigeria and
•therefore,NO Mission attached,hence we are not Serious nor Productive!
He is coming from the Private Sector and the Private Sectors are more Serious , Discipline, even in Resumption and Closing business time!
-When we run Public Institutions like our Private Business - our aim to Succeed,no sentiments attached in business, ready to Fire lazy folks, nothing like Tribal Or Religious Sentiments,then Nigeria will fly like other Nations!
•For Now,Let NNPC and all her Subsidiaries - go to ARAMCO- to learn for the next 2- Months on how to run a Public Institutions and Succeed with it!

Sangoamadioha1:
They have started again. First it was remove subsidy and float the naira and all our problems will be over. We are all witnessing the result of these policies. Now we should not repair our refineries We have very dumb but vocal people in Nigeria, which is part of our biggest challenges.

was the subsidy and fake Naira value sustainable?

marlow1962:
Apc and other bad politicians just dy embezzle Nigerians for their naked eyes .
Imagine 2023 Nigeria is still fighting for her first government owned refinery , seriously this is funny,
The citizens are buying finished goods of God giving minerals at very exorbitant price, lol
The country done crumble since 2015.

how many of these goods do you finish?
BTW the price is not exorbitant
We just broke

RepoMan007:
Lie lie people. The refineries can work efficiently. Corruption is fixable and isnt a mountain every other thing has to move aside for.

Oga to be candid with you these Refineries can't work but I'm not sure output can cover the running cost because of inefficiency, corruption and boltneck in the system.
I agreed with them (APC) on this.

I had been privileged to run some jobs at warri Refinery, the matter for that place pass waiting they put out for us ooo

Work on it oooo

What is this man saying? If government is inefficient in running refineries then government should sell them.

WE WANT TO REFINE CRUDE LOCALLY!!!

Fullstop.

Cromagnon:
how many of these goods do you finish?
BTW the price is not exorbitant
We just broke

Never you say Nigerians are broke, never.

marlow1962:

Never you say Nigerians are broke, never.

what is our GDP per capita?
What is that of the developed world

Just see how you will go silent on this

Cromagnon:
what is our GDP per capita?
What is that of the developed world

Just see how you will go silent on this

Nah my bro, Nigerians are not poor.
As long as they have money to afford tinubu subsidy and money to gbedu, they're not poor.